Quang
The People’s Committee of Quang Nam province and the Ministry of Industry have recently held an investment conference in Hanoi to introduce the potential and incentive policies for investors in industrial parks and the Chu Lai economic zone in the province.
Nguyen Xuan Phuc, chairman of the Quang Nam People’s Committee, said that in the Chu Lai economic zone, land rent tax would be exempted after land rent contracts were signed until December 31, 2005, for projects investing in the Tam Hien and Northern Chu Lai industrial parks, and the first phase of the Tam Giang duty free zone, and projects investing in eco-tourism and villa construction in coastal areas.
In industrial complexes, investors will enjoy land rent exemption for seven years and a reduction for five following years if their projects employ more than 100 workers in delta districts. Vietnamese and foreign enterprises investing in infrastructure development, apart from corporate income tax exemption and reduction as stipulated by the Vietnamese Government, will enjoy seven years of tax exemption and a reduction of 50 per cent for ten following years. Regarding the corporate income tax rate, foreign investors will be subject to a tax rate lower than six per cent after they enjoy the tax exemption and reduction periods as stipulated by the Government - five years for production projects and three years for service projects.
Vietnamese
